MICROSOFT CORP

Ticker: MSFT CUSIP: 594918104 Class: Common Stock

MAKENA CAPITAL MANAGEMENT LLC's Holding History (CIK: 0001359262)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 70,000 Value ($000) $33,853 Avg Close $500.58 Range $464.89 - $552.69

Q3 2025

Shares 74,517 Value ($000) $38,596 Avg Close $508.71 Range $486.99 - $553.50

Q2 2025

Shares 78,159 Value ($000) $38,877 Avg Close $432.38 Range $342.95 - $499.00

Q1 2025

Shares 83,385 Value ($000) $31,302 Avg Close $405.08 Range $365.28 - $445.10

Q4 2024

Shares 49,823 Value ($000) $21,000 Avg Close $422.35 Range $401.80 - $452.82

Q3 2024

Shares 42,239 Value ($000) $18,175 Avg Close $423.10 Range $381.30 - $463.16

Q2 2024

Shares 48,420 Value ($000) $21,641 Avg Close $417.26 Range $383.04 - $451.11

Q1 2024

Shares 52,063 Value ($000) $21,904 Avg Close $399.26 Range $361.12 - $425.28

Q4 2023

Shares 59,211 Value ($000) $22,266 Avg Close $350.36 Range $306.02 - $378.65

Q3 2023

Shares 63,672 Value ($000) $20,104 Avg Close $324.59 Range $304.29 - $359.90

Q2 2023

Shares 57,535 Value ($000) $19,593 Avg Close $307.21 Range $269.61 - $344.87

Q1 2023

Shares 71,310 Value ($000) $20,559 Avg Close $249.46 Range $214.23 - $283.22

Q4 2022

Shares 68,574 Value ($000) $16,445 Avg Close $234.05 Range $207.86 - $257.76

Q3 2022

Shares 59,346 Value ($000) $13,822 Avg Close $256.88 Range $226.66 - $285.90

Q2 2022

Shares 67,071 Value ($000) $17,226 Avg Close $263.43 Range $234.71 - $305.53

Q1 2022

Shares 68,308 Value ($000) $21,060 Avg Close $291.40 Range $261.79 - $327.04

Q4 2021

Shares 62,282 Value ($000) $20,947 Avg Close $313.41 Range $270.67 - $338.33

Q3 2021

Shares 55,934 Value ($000) $15,769 Avg Close $280.73 Range $259.89 - $295.39

Q2 2021

Shares 41,754 Value ($000) $11,311 Avg Close $244.73 Range $228.94 - $261.86

Q1 2021

Shares 38,281 Value ($000) $9,026 Avg Close $222.90 Range $203.36 - $236.17

Q4 2020

Shares 21,736 Value ($000) $4,835 Avg Close $206.04 Range $191.04 - $218.32

Q3 2020

Shares 19,983 Value ($000) $4,203 Avg Close $200.75 Range $187.82 - $222.85

Q1 2020

Shares 12,289 Value ($000) $1,938 Avg Close $156.34 Range $126.17 - $181.07

Q4 2019

Shares 20,479 Value ($000) $3,230 Avg Close $139.23 Range $126.06 - $151.49

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	70,000	$33,853	$500.58	$464.89 - $552.69
Q3 2025	74,517	$38,596	$508.71	$486.99 - $553.50
Q2 2025	78,159	$38,877	$432.38	$342.95 - $499.00
Q1 2025	83,385	$31,302	$405.08	$365.28 - $445.10
Q4 2024	49,823	$21,000	$422.35	$401.80 - $452.82
Q3 2024	42,239	$18,175	$423.10	$381.30 - $463.16
Q2 2024	48,420	$21,641	$417.26	$383.04 - $451.11
Q1 2024	52,063	$21,904	$399.26	$361.12 - $425.28
Q4 2023	59,211	$22,266	$350.36	$306.02 - $378.65
Q3 2023	63,672	$20,104	$324.59	$304.29 - $359.90
Q2 2023	57,535	$19,593	$307.21	$269.61 - $344.87
Q1 2023	71,310	$20,559	$249.46	$214.23 - $283.22
Q4 2022	68,574	$16,445	$234.05	$207.86 - $257.76
Q3 2022	59,346	$13,822	$256.88	$226.66 - $285.90
Q2 2022	67,071	$17,226	$263.43	$234.71 - $305.53
Q1 2022	68,308	$21,060	$291.40	$261.79 - $327.04
Q4 2021	62,282	$20,947	$313.41	$270.67 - $338.33
Q3 2021	55,934	$15,769	$280.73	$259.89 - $295.39
Q2 2021	41,754	$11,311	$244.73	$228.94 - $261.86
Q1 2021	38,281	$9,026	$222.90	$203.36 - $236.17
Q4 2020	21,736	$4,835	$206.04	$191.04 - $218.32
Q3 2020	19,983	$4,203	$200.75	$187.82 - $222.85
Q1 2020	12,289	$1,938	$156.34	$126.17 - $181.07
Q4 2019	20,479	$3,230	$139.23	$126.06 - $151.49